There are certain standard costs related to closing the sale of a house. Buyers and sellers usually share these closing costs, as specified in the sales contract.
As the list below indicates, many of the closing costs result from getting your mortgage. At Bob Rutledge Mortgage, we have extensive experience in residential mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".
Soon after you submit your application, we'll provide you with a "Loan Estimate" of your closing costs. This cost estimate is based on our past experience. Please note that while our LEs are very accurate, we cannot always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can change slightly at closing.
Below you'll find a fairly generic list of closing costs. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Loan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Getting Your Credit Report Up-front Interest Payment Escrow Fees Various Taxes Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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